Non-alcoholic beverage sales are trending upward in the two-week period ended June 14, as volume rose and pricing dipped, according to the latest NielsenIQ data analysis by Goldman Sachs Equity Research.
Between scorching temperatures and simmering global conflicts, it hasn’t been the easiest start to summer in 2025, but there’s reason for beverage operators to have optimism.
Overall sales growth rose 3.1% for the two-week period (2.6% 4W/4.3% 12W) with volumes inching forward though still in the red (-1.6% 2W/-2.3% 4W) and pricing growth climbing up 4.6% (4.9% 4W).
CSDs
Things might not be perfect, but there’s some sunshine on the horizon, as volume declines softened (-0.5% 2W/-1.9% 4W) and pricing decelerated (3.8% 2W/4.6% 4W) to fuel sales (3.3% 2W/2.6% 4W). Low-calorie sodas were stronger: volume grew 5.7% in the two-week window (+5.1% 52W) to power dollar sales up 10.1%.
The two-week period saw OLIPOP’s sales slump continue (-14.9% 2W/-14% 4W/-9.9% 12W) with volume slipping -19.9% (-18% 4W) and pricing ticking upward. To put in perspective, though, OLIPOP’s sales are up 233.7% 2W on a two-year stack basis.
Amongst the category’s big three, an increase in volume (0.3% 2W/-2.3% 4W) at Coca-Cola drove sales sequentially (4.5% 2W/3.2% 4W) against weaker pricing. For Pepsi and Keurig Dr Pepper, conditions were more-or-less stable during the period: Pepsi reported sales growth of 0.5% in the two-weeks (-0.1% 4W), with volume trending positive (-3.9% 2W/-4.5% 4W). KDP also held steady, growing sales 2.6% (2.9% 4W) and volume 4% (4.4% 4W).
Energy Drinks
It may be a crowded space, but it’s a good time to be in the energy drink business, as sales picked up 15.3% for the two-weeks (+14.6% 4W/14.3% 12W). Volume picked up speed (13.3% 2W/12.2% 4W), while pricing nudged up (1.8% 2W/2.1% 4W).
Monster (excluding Bang) held steady during the two-week period, posting 8.3% sales growth (+8.4% 4W), 1.2% volume gain (+1.6% 4W) and 7% pricing (+6.6% 4W). Red Bull sales dipped slightly (+15.1% 2W/+16% 4W) on the back of slowing volume, though pricing has been broadly consistent (-0.7% 2W/-0.8% 4W).
Celsius is tracking at $3 billion-plus-and-counting for the past year, and keeps growing (+45% 2W/+35.4% 4W/+28.1% 12W). KDP’s Ghost saw sales and volume deceleration, while its other affiliated energy brand, Nutrabolt, picked up sales steam (+18.1% 2W/+16.7% 4W).
Sports Drinks
Sports drinks bounced back into growth (+0.3% 2W/-4% 4W/-5.4% 12W) on the back of accelerating prices and a decline in volume. Gatorade drove sales through volume and a hike in pricing (11.6% 2W/8.4% 4W), while Coca-Cola did the opposite (volume +9.2% 2W/+4.7% 4W). KDP-distributed brand Electrolit remained a consistent source of big growth numbers in sales (64.5% 2W/64% 4W/63.1% 12W) and volume (58% 2W/58% 4W).
Sparkling Water
The category continued tilting negative, as sales growth fell sequentially yet again (+5.1% 2W/+5.7% 4W/+7.4% 12W) and volume slipped just a bit(0.9% 2W/1% 4W). Though pricing held stable, both volume and sales were down at Talking Rain in the two-week period, but Liquid Death also saw its sales traction fall (13.4% 2W/15.1% 4W/24.7% 12W) along with volume (4.5% 2W/18.3% 12W).
National Beverage Corp., which releases its quarterly earnings this week, was one of the few to post gains, with volume on the rise (2.8% 2W/0.5% 4W).
Coffee
Not much good news here: though pricing was marginal (5.9% 2W/6.2% 4W), sales and volume both kept tumbling across the category, which is down 3.2% over the 52-weeks.
Califia regained some footing after a dip (-11.5% 2W/-18.3% 4W/-9.6% 12W), and Black Rifle reported slowing sales and volume in the two-week period despite pricing action (-1.9% 2W/-1.7% 4W). Pepsi/Starbucks sales kept decelerating (-4.7% L2W/-4.2% L4W) while volume was up (-3.5% L2W/-4.5% L4W).